New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-09-18
GENERfL RNTLEKS WY.


There arc few subjects Of greater interest
to young men just starting out in life with
little or nothing. and TO the gils who expect
10 marry the young men, In spite OF that dis
advantage, than the question how they arc to
acquire n competence. The craving to grow
rich merely for the sake OF being rich has
little TO commend it. The wish TO make sure
Of comfort for old age, to provide for the
future Of children, is as natural and honorable
an instinct as the desire to own the land YOU
live on, which. Mr.. Henry George would have
us believe is all of piece with original sin.
General benjamin +. Butler, who has acquired
a handsome fortune by hard work as lawyer
and by shrcwd investments. has lately written
letter upon this subject, which contains
more common sense than anything OF the KIND
We remember to have seen in long time.
The substance of it is that young man who
il earning something more than his living OK
pcnses should not wait until he has saved
handsome sum. He is very likely never TO do
il. He should as soon as he has even very
little money, buy at auction under n judicial
sale a piece Of improved real estate, n"
matter how modest il may be, but paying
rent, il possible. Let him pay what he can
in cash, giving his notes for the rest and
as soon as he is forced to save he will be
surprised TO see how much he can keep OF the
money that has been accustomed TO slip
through his fingers. Buying in this way no
will paw only little more than the next
highest bidder was willing TO pay, thus avoid
ing the RISKS OF errors Of judgment in private
purchase. Then as he succeeds in paying oil
the debt, let him repeat the purchase. Cen
cral Butler says that in this way he soon ac-
CURED twenty different pieces. Of property in
Lowell, and he adds little plaintivcly that he
wishes he had been wise enough TO continue.
this course through life. Also, says the
General find AS early as possible" saving,
prudent girl for wife, and she will aid, not
hinder YOU"
Every successful man would pronounce this
advice Of the soundcst kind. There is no
investment which takes care of itself so well,
and at the same time is so likely to grow in
value, as improved real estate-unless it be
good wife. Even unimproved real estate
often pays better than a large proportion OF
business ventures. The man who docs not
20 through bankruptcy at least once in his
life u.s. probably, an exception among business
men. After all that can be said however, OF
the great sums made in speculations in build
ing lots, the fact remains that the country is
strcwn with the wrecks of real estate b0oms.
But a house on lot makes it a source OF in
come, or at least should make it pay its way,
while unimprovcd real estate eats into its
owners pocket with taxes, interest and
scssments. This is the principle followed by
the shrcwdly managed large estates, like that
Of the Astors, for example, who are said to
have found that, taking a long and broad
average, investments in unmprovcd prop
crty, held for rise, were not really profitable.
The young men General Butler was talking
to are not Astors, but the principle is better
for small holdings than for large ones, because
The rich owner can stand the strain of heavy
expenses. But some one may say, what is the
use of talking of such investments in New
York City, where land must almost be paved
with gold to buy it 1ha is not true. how
ever. Of all Of NcwYork or all Of its surround
ings. A young man living on salary and
saving a few hundred dollars year can
doubtless find investments within his reach,
either in the very outskirts of Ncwiork or
of Brooklyn and other neighborng cities.
including those OF New-Jersey. Probably no
city in the world offers such certainties of
profit in real estate investments as New-York
docs to-day, and in New-York we include. OF
course, the cities which make a part OF it
though they arc not called by the same name.
To-day Ncw-York is really nearly rs largo as
Paris. Some day it will be much larger.
Who can venture to predict, for example,
the future population Of Brooklyn, or of the